Glastonbury, Connecticut – (The Hosting News) – September 14, 2007 – Web host and integrated enabling financial technologies firm, Open Solutions Inc., has acquired Canadian-based Fincentric Corporation, a provider of core retail banking and customer value management software to the global financial services industry.
Open Solutions believes the transaction will further enable it to expand its product offerings and market presence in the Canadian and global marketplaces. Fincentric will become part of Open Solutions Canada — which is headed by its President Blair Goulet. Fincentric will continue to operate from its location just outside of Vancouver in Richmond, British Columbia.
Open Solutions and Fincentric both serve the financial services marketplace with an emphasis on providing financial institutions with a distinct technological, service and competitive advantage.
Open Solutions believes this transaction will further enable it to expand its product offerings and presence in the Canadian and global marketplaces. As previously announced, Fincentric will become part of Open Solutions Canada, which is headed by its President, Blair Goulet. Fincentric will continue to operate from its location just outside of Vancouver in Richmond, British Columbia.
Robert Nygren, President and CEO of Fincentric Corporation remarked, ”We believe that becoming part of Open Solutions will provide Fincentric with an excellent opportunity to continue our success in providing innovative solutions to the financial services marketplace. Open Solutions is highly recognized in the financial services arena. They have garnered an excellent reputation in the industry and have demonstrated focused leadership in proactively meeting the technological and service needs of the industry and their clients. We are looking forward to joining and working with Open Solutions as we continue to serve the needs of the financial services industry.”
Open Solutions intends to leverage each company’s strengths and experience to develop additional product offerings, new technologies and applications.
Blair Goulet, President, Open Solutions Canada added, ”Open Solutions and Fincentric share a common commitment to providing the financial services marketplace with open, relational and innovative products and services. Fincentric also shares Open Solutions’ outlook on the importance of client service. They bring a financial industry knowledgeable and highly-skilled employee base that will fully complement our own efforts within the industry.”
Louis Hernandez, Jr., Chairman and CEO of Open Solutions noted, ”We are very pleased to announce the completion of this acquisition and delighted to welcome the employees of Fincentric Corporation and their clients into the Open Solutions family. We look forward to working closely together to further expand our company’s market presence and reach within the global financial services industry. We intend to leverage each organization’s strengths and experience to develop additional product offerings, new technologies and applications. Together, we are committed to Open Solutions’ ongoing efforts to offer industry-focused proactive solutions designed to help financial services providers better compete, and provide superior products and services to their customers.”
Fincentric Corporation provides technology and services solutions designed to help financial institutions automate key business processes to drive operational efficiencies, increase revenues and improve customer satisfaction. Our teams and our high-performance technologies have been supporting well over 160 financial institutions on 5 continents for more than 23 years.
Open Solutions Inc. offers a fully featured strategic product platform designed to integrate core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, web hosting and design, and payment and loan origination solutions. Open Solutions’ full suite of products and services are offered to banks, thrifts, credit unions and financial services providers in the United States and Canada.
For more information about Fincentric, please visit: www.fincentric.com.
To learn more about Open Solutions, please visit: www.opensolutions.com.